Gilat Satellite Networks (NASDAQ:GILT) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Gilat Satellite Networks (NASDAQ:GILT) in a report released on Friday morning,Benzinga reports. The firm currently has a $8.50 price objective on the communications equipment provider’s stock.

Separately, William Blair began coverage on shares of Gilat Satellite Networks in a research report on Thursday, September 26th. They set an “outperform” rating for the company.

Gilat Satellite Networks Price Performance

GILT stock opened at $5.03 on Friday. The company has a market cap of $286.81 million, a PE ratio of 17.35 and a beta of 0.59. The company has a current ratio of 2.17, a quick ratio of 1.81 and a debt-to-equity ratio of 0.01. The stock has a 50-day moving average price of $5.01 and a two-hundred day moving average price of $4.90. Gilat Satellite Networks has a 12-month low of $4.04 and a 12-month high of $6.80.

Institutional Trading of Gilat Satellite Networks

Institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets acquired a new position in shares of Gilat Satellite Networks during the third quarter worth about $27,000. Quadrature Capital Ltd boosted its holdings in Gilat Satellite Networks by 19.6% in the 1st quarter. Quadrature Capital Ltd now owns 33,937 shares of the communications equipment provider’s stock worth $184,000 after acquiring an additional 5,559 shares during the period. Foundry Partners LLC grew its position in Gilat Satellite Networks by 1.0% in the third quarter. Foundry Partners LLC now owns 834,230 shares of the communications equipment provider’s stock valued at $4,396,000 after acquiring an additional 8,045 shares in the last quarter. PDT Partners LLC raised its stake in shares of Gilat Satellite Networks by 51.1% during the third quarter. PDT Partners LLC now owns 27,453 shares of the communications equipment provider’s stock valued at $145,000 after purchasing an additional 9,287 shares during the period. Finally, Wedbush Securities Inc. acquired a new position in shares of Gilat Satellite Networks during the second quarter worth $46,000. 35.72% of the stock is owned by hedge funds and other institutional investors.

About Gilat Satellite Networks

Gilat Satellite Networks Ltd., together with its subsidiaries, provides satellite-based broadband communication solutions in Israel, the United States, Peru, and internationally. It operates in three segments: Satellite Networks, Integrated Solutions, and Network Infrastructure and Services. Its portfolio consists of cloud-based satellite network platform, very small aperture terminals, amplifiers, modems, on-the-move antennas, solid state power amplifiers, block upconverters, transceivers, and defense ground systems and field services.